Fitch turns Trans-Oil view to stable

Fitch Ratings said it revised its outlook on Aragvi Holding International Ltd.’s (Trans-Oil) foreign-currency issuer default rating to stable from positive and affirmed the B ratings on the company and Aragvi Finance International DAC’s $500 million of 8.45% notes due 2026. The outlook on the local-currency IDR remains positive.

“The revision of the outlook on the FC IDR reflects the low likelihood of the rating being upgraded if the LC IDR was upgraded due to increased operating environment risks in Moldova,” Fitch said in a press release.

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